- The first quarter of 2016 observed mixed financial results for the broader US equity market, as the S&P and DJIA close up 0.8 percent and 1.5 percent, respectively; while the NASDAQ closed down 2.7 percent for the quarter.
- Unemployment in the Pittsburgh region was estimated at 4.6 percent for the third quarter 2015, below the national rate of 5.0 percent.
- The preliminary unemployment rate in the Philadelphia region was estimated at 4.8 percent for February 2016, slightly below the national rate of 5.0 percent.
- The first step in applying ASC 842 is determining whether or not a contract, which is defined as an agreement between two parties which creates enforceable rights and obligations, contains a lease. Basically the contract contains a lease if it conveys the right to control the use of identified property or equipment for a period of time.
- This is the last year FBARs are due in June; next year, the FBAR filing deadline moves to April.
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